The thriving e-commerce sector is driving demand for warehouse space faster than new supply comes on the market.
With almost 50M square feet of new warehousing capacity came onto the U.S. market during Q3, distribution and e-commerce fulfillment operations are moving in as quickly as it's being built, the Wall Street Journal reports, citing a report from real-estate brokerage CBRE Group (NYSE:CBRE).
The industrial availability rate--which measures properties that are vacant or soon-to-be vacant--fell to 7.1%, the lowest since 2000, when it was 6.6%.
That measure fell for 33 consecutive quarters.
Previously: Colony Industrial acquires more space in Atlanta with buy of nine properties (Oct. 5)
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